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Veolia closes buy of biomass power plant in Hungary

Wood chips. Author: U.S. Department of Agriculture. License: Creative Commons, Attribution 2.0 Generic

January 11 (Renewables Now) - A subsidiary of Veolia Environnement SA (EPA:VIE) has closed the acquisition of a 98% stake in the operator of a biomass-fueled combined heat and power (CHP) plant in Hungary.

More specifically, Veolia Energia Magyarorszag Zrt has completed the acquisition of the majority interest in Bakonyi Eromu Zrt on December 28, it announced Tuesday, without disclosing the financial terms of the deal.

Bakonyi Eromu operates a plant that has the capacity to generate 131.6 MW of power and 360 MW of heat. Although it runs mostly on biomass, including wood chips and agricultural by-products, the facility still burns some coal. Veolia’s goal is to lower the amount of used coal and eliminate ash pollution.

The acquired plant was established in 1992 and currently provides jobs for 285 people.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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